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Thomas Medical Utilizes GoGlobal Grant to Explore Emerging Markets

Posted by chamberadmin on August 10, 2016

Pokémon Go has become a new trend that’s taking off among people of all ages and interests. But did you know Pokémon can also be caught in China? In the world of smart phones, online gaming, and constant social media connection, businesses of all sizes are taking advantage of world-wide markets. Thomas Medical is just one example of an Indy based company profiting from exporting and looking to continue growing outside of the United States.

Exporting can positively impact a business’s bottom line, but for many firms finding the right market to enter can be a daunting and costly task, especially when considering entering an emerging market that might not have all the resources of a more developed country.

For Thomas Medical exporting is a priority. The company has been aggressively growing exports for more than seven years and currently operates in more than 60 countries. As one of the leading manufacturers of women’s healthcare medical devices, Thomas Medical wanted to examine the possibility of entering an emerging market in hopes of reaching women on a larger global scale.

Exporting Resources

Oftentimes potential exporters request introductions to global markets through trade shows and conferences in an effort to become more familiar with international business. The GoGlobal grant is one program offered by the Indy Chamber to assist Indianapolis businesses with the expenses of exploring new markets, including the cost of attending international meetings.

Thomas Medical products are used in thousands of hospitals, surgery centers, and OB/GYN practices throughout the world. As a recipient of the Indy Chamber GoGlobal grant, Thomas Medical put the funds to work by exploring potential emerging markets. “We are established in the developed countries and the next step for us was to go after the intermediate countries where the resources might not be as readily available as they are in first world countries. Our products really do help people and we want to help as many people as possible,” said Ben Ovenden, Thomas Medial Sales Manager.

Trip to Helsinki

The ESHRE Annual Meeting is a European endocrinology show that was held this year in Helsinki, Finland.  “We attended as a guest and utilized the conference to meet with existing and potential distributors in addition to exploring new market trends and products that we could possibly incorporate into what we do,” summarized Ovenden.

The endocrinology show allowed Thomas Medical to vet interest in secondary markets within a segment outside of their usual target customer. “Getting the grant was a great way to off-set some of the costs for exploring something that we didn’t really know was going to work out for us or not. There is certainly some potential in other markets for us,” notes Ovenden.

Whether you’re exporting Pokémon, medical devices or anything in between, the Indy Chamber can help you explore markets outside our borders. There is still time to apply for the GoGlobal Grant Export Acceleration Program, presented by the Indy Chamber and JPMorgan Chase & Co., before the September 1st deadline. For information visit www.indychamber.com/economic-development/global-indy/.